Comrade Lezhave

Regarding the question of Harriman's proposed entry, I communicate the following: if I am not mistaken, the principal point in the Derutra agreement was that we and the Germans have equal votes in the board of directors. If Harriman were to enter with the Germans, i.e., as part of the German half, then of course this is acceptable to us, but if the Germans plus Harriman were to have 2/3 of the votes and we 1/3, then naturally it is unacceptable. In that case, it would be necessary to establish alongside Derutra a second company in which we and Harriman would have equal votes. The combined operations of both companies under these conditions would fully safeguard both our interests and Harriman's.

Lenin

Dictated by telephone

Published for the first time,
from typescript copy